Improving legislation on counteraction to raiding as a direction in strengthening ukraine’s economic security
Abstract
The purpose of the paper is to analyze the current state of the legal framework for counteraction to raiding in Ukraine as the latter is a serious threat to national economy and also to detect the most problematic aspects in it. Methodology. This study has been carried out within the ontological framework of the postneoclassical science with application of monographic analysis method and the dialectical method. The use of these two methods allowed describing the current state of the legal framework for counteraction to raiding in Ukraine and to outline the most important directions in its further improvement. Results of the carried out research demonstrate that the legal framework that is supposed to complicate illegal and quasi legal takeovers of enterprises by raiders has been gradually improving in Ukraine. However, this improvement is fragmentary and not systemic, and this hinders planned and consistent activities of the state in the field of creation and development of the institutional economy. The current state of the legal framework for counteraction to raiding in Ukraine and the lack of uninterrupted systemic efforts on its improvement is the root cause why quasi raiding acts today are taking new shapes and forms. The most widely spread schemes of raiding takeovers of businesses and their assets in the recent years have been based on the unregulated intrusion in state registers and manipulations with the related records. Stronger protection of property rights against these manipulations with state register data should be based on application of the norms introduced by several Laws of Ukraine approved in the recent years. However, efficiency of these novelties in part of counteraction to raiding attacks would depend not that much on the official state of these changes but rather on their actual, practical implementation. Practical implications. Results of studying the state of legal framework for counteraction to raiding in Ukraine outline the directions for further improvement of the normative and legal basis for fighting raiding in Ukraine, in particular, for the prevention of strengthening quasi legal raiding and also for better systemicity of the related legal framework. Value/originality. Comprehensive analysis of the legal framework for counteraction to raiding in Ukraine, taking into account the latest raiding takeover schemes, has not been performed before, even though there have been studies dedicated to certain aspects of raiding (for example, violations of corporate rights). The obtained results do not only outline the directions for further improvement of the regulatory and legal basis for the fight against raiding in Ukraine but can also be applied in economic security studies of all levels (mega-, mezo- and microlevels namely).
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